The details on the naira float that was not a float have been disclosed in recent weeks. Although many suspected that the CBN was secretly controlling rates behind the scenes, some insiders have come out to speak on it. The issue has moved from a case of “are they really doing that?” to “Yes, they… Continue reading Loss of central bank independence in practice: the return of the fuel subsidy
Thinking about government spending and the path to debt problems. My article in guardian today. http://guardian.ng/business-services/what-debt-spend-like-there-is-no-tomorrow/
Nonso Obikili drops another must-read piece in The Guardian today, which you can peruse by following the link in our bio. #TheGuardianContributor #NonsoObikili #GuardianMoney #Economics #Business #Nigeria #GuardianMoney #TheGuardianNg A photo posted by The Guardian (@guardiannigeria) on Oct 4, 2016 at 4:40am PDT “Therein lies the challenge for policymakers. You have to make policy… Continue reading Policy for the future: Lessons from bitcoin
The flavour of the week, in terms of paths out of the recession, is asset sales. The story goes; “We are in recession. To get out of recession we need to spend money. To get money to spend we need to sell some assets.” Air tight logic if you ask some. There is, however, the… Continue reading On asset sales: The elephant in the room.
As we think about the road out of recession, the CBN has to focus on getting back to macroeconomic stability. We cannot come back if there are two exchange rates for the same currency. My piece in the guardian today. Read here
The monetary policy committee meets today to deliberate on actions to take particularly regarding the monetary policy rate. This is the first MPC meeting since the recession was confirmed, although most members already knew it was coming for a while. The major question is if the MPC should cut the monetary policy rate? To be… Continue reading MPC: Is there room to cut?
In which I ask what the government will stop doing. My piece in The Guardian today. Recession confirmed. Now what?